USDJPY recently formed a strong up channel and looks to continue to move in that direction based on market structure. The support at 108.65 is expected to hold and we would like to see a pop into the next resistance points. There is a level at which we can expect price to move into at 109.200 then up to 109.330 these two levels are based on the Fib retracements,...
Quick Update on the DXY, we're seeing this downtrending trendline, price has been respecting. I'm looking for a loss of strength in the USD over this week based on technicals. HOWEVER, we have a lot of high impact news regarding the US Dollar this week therefore I would trade with caution. Be strict with risk management on USD pairs. If the dollar does in fact...
CANDLE OUT OF FIGURES, I THINK WE ARE EXPECTING A BULL MARKET FOR THIS PAIR
looking for some sort of support from Previous highs so we can go long.
Nothing other than strong level of confluence and support. Keep an eye on 87.20 - 87.50 support level. Something interesting going to happen when DXY reaches that level. :) Happy trading, folks! Cheers.